Seed Round Sizes Differ by Location But Medians Are Consistent

This is for the haters (and by haters, I mean lovely VCs who invest in startups outside of SF and NYC).

Yes. You are all correct.

Valuations and round sizes are different depending on the location of the startup across the US. Bay Area metrics are not Charlotte metrics (or heck, even Seattle or Austin metrics).

And yes, if you look at medians for the entire country, those are heavily influenced by coastal valuations...because they should be! There are a lot more rounds completed in the mature ecosystems than there are in the South or Midwest. Weighting the national figures towards Silicon Valley happens by default.

But I digress. Here's the data over the last 9 months or so for the 4 census regions across Seed, Series A, and Series B:

𝗦𝗲𝗲𝗱

• Median post-money valuations

West: $20.8M, Northeast: $20M, South: $14M, Midwest: $10.3M

• Median cash raised:

West: $4M, Northeast: $3.7M, South: $2.8M, Midwest: $2M

𝗦𝗲𝗿𝗶𝗲𝘀 𝗔

• Median post-money valuations

West: $64.7M, Northeast: $59.1M, South: $50M, Midwest: $47.2M

• Median cash raised:

West: $12.9M, Northeast: $10.9M, South: $8.4M, Midwest: $7.1M

𝗦𝗲𝗿𝗶𝗲𝘀 𝗕

• Median post-money valuations

West: $143.8M, Northeast: $141M, South: $133M, Midwest: $70M

• Median cash raised:

West: $21.6M, Northeast: $20.0M, South: $13.4M, Midwest: $13.6M

The more you know :)

#startups #VC #founders #fundraising